Islamic Republic of Iran Shipping Lines (IRISL) Group and South Korea's Hyundai Heavy Industries are in the final rounds of a $650-million deal to provide 10 ships to Iran, a report said.
Under the contract, Hyundai will build

Gulf Navigation Holding, a group which owns and operates chemical tankers, is expanding the company’s fleet through a strategic long-term partnership with Wuchang Group, China’s heavy industry giant.
The decision, made at Gu

Gulf Navigation Holding, a group which owns and operates chemical tankers, is expanding the company’s fleet through a strategic long-term partnership with Wuchang Group, China’s heavy industry giant.
The decision, made at Gu

Iraqi state oil firm Somo has blacklisted three tankers involved in shipping crude from Kurdistan, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue.
Kurdistan has been

National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers.
The funding will be provided to National Chemical Carriers by Ar

National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers.
The funding will be provided to National Chemical Carriers by Ar

Maritime authorities shut Istanbul's Bosphorus Strait to transiting tankers on Saturday "for security and safety" reasons, shipping agent GAC said, after what the government said was an attempted coup by a faction in the military.

National Iranian Tanker Company (NITC) plans to overhaul its fleet and build new oil tankers with the help of domestic companies, a report said, quoting the company's managing director.
"We will try to renovate and overha

Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes.
Tehran is seeking to make up for lost trade

Oil tankers are set to deliver the biggest volume of Iraqi crude to US shores in more than three years, as Organization of Petroleum Exporting Countries (Opec's) second-largest producer vies for market share as pressure mounts on US shale